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The Economics Of The Olympics
The Economics Of The Olympics
The Economics Of The Olympics
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The Reasons Behind the Increasing Commercialism of the Olympic Games
The Olympic Games is a world wide event, held once every 4 years. It
is the most important event amongst the elite athletes of today. It is
viewed on television by billions of people across the world, by
satellite transmission (started in Tokyo in 1964). This worldwide
viewing attracted sponsors as they realised that by supporting the
Olympics their product would be advertised on every product sold, as
they would be the 'official sponsor'. The advances in technology has
played a fundamental role in the increase in commercialism, as large
sums of money are put forwards for television rights over the Games
from companies such as Sky, the BBC and ABC.
Sponsorship plays an essential function in the running of the
Olympics. Money from sponsors is used for administration, travel and
accommodation for the athletes and officials, communication and
equipment. In the Barcelona Olympics of 1992, there were 44 companies
included in The Olympic Programme (TOP). The commercialisation or
Americanisation of the Games involves many multinational companies
like McDonald's, who have been involved with the Olympic Movement
since 1976 when it became an official sponsor of the Olympic Games in
Montreal. McDonald's joins The Coca-Cola Company, Kodak Company, Sema
Group, TIME/Sports Illustrated, Xerox, and VISA as TOP V sponsors, to
name a few. A spokesman for McDonald's, Jack Greenberg, believed that
McDonald's were a "unique company, capable of bringing the fun and
excitement of the world's premiere sporting event to 43 million
customers every day."
However the real reason behind this sponsor was chosen as it was
offering the Olympic Committee millions of dollars in sponsorship.
McDonald's, as an example, wanted to exploit the Games, using it as an
advertising tool, to imply their company has a clean, reliable and
idealistic image like that of the Olympics.
The Salt Lake Organising Committee received approximately US$ 1,390.5
million from Olympic marketing programmes, but a question asked by
many is
Where exactly does all the money come from?
The two websites offered, The Penn Museum and PBS, both offer unalike perspectives on how to present information on the Greek Olympics and the Roman Empire. They also act differently as companions to the text, Traditions and Encounters by Bentley and Ziegler. Both of the websites however were interesting. I will elaborate on each websites content, helpfulness, reliability, graphics, and design below.
that rules would be abided by and so the games were to be held in
All three tiers have a role to play, it's not only to provide their product or sell it. They are interested to expand their brand in a global manner to attract more customers. Many may think that this a way for a money hungry CEO to get more money, in some cases it might be. However, it can be used in a positive way. These companies are known for their charitable causes, but in the World Cup, they promote the game to underprivileged children. The goal is to raise to provide the skills needed so that one day; that once under estimated child can achieve their goal, and play in the prestigious tournament. The same strategy can be used to provided funding to eliminate property, and uplift the host nation.
The perceived and actual benefits by engaging in non-traditional marketing tactics such as sponsorship are well documented. Broadcasted events utilise sponsorship as a brand exposure opportunity capable of providing brand integration, which advertising scholars illustrate as the ‘inclusion of branded products or identifiers through audio or visual means within mass media programming’ (Wiles and Danielova, 2009; pXX). Existing research supports the theory that sponsorship enriches corporate image and consumer response (Javalgi et al., 1994; Stipp and Schiavone 1996, Koo, Quarterman, and Flynn, 2006). Authors hav...
Athletes are offered endorsements to act as a representative for a company to help promote sales. They often are seen in commercials promoting athletic apparel, shoes, sports drinks, food, and other products. Marketing companies know that by associating a product with an athlete it can drastically increase sales.
Modern Day Olympics are a huge tradition that sweeps the screens of televisions across the world. Competitors take the arena with uniforms that dawn their countries colors and designs that are meant to resemble their designated flag. For months the news is centered around the games; the preparation, the athletes, and of course the competition. Countries aren 't obsessed, they are inspired and full of pride seeing athletes from their country compete and show their incredible skill. This tradition dates back to ancient Greece where the games began. Tony Perrottet writes about the traditions of the ancient game in his book The Naked Olympics.
The Olympic games is a series of events that takes place every two and four years that originated in Greece to honor the Greek gods (Cartledge 1). The Olympics is an inspirational contest where many nations of the world come together and compete. This pertains to the athletic competitors who have trained for years to enter the Olympics. This includes swimmers, boxers, hockey players, runners, cyclists, ice-skating, figure skating, and many other sports (Cartledge 2). The Olympics have changed since ancient times because of technology, innovations, and a broader audience.
Has there ever been a sporting event without some sort of logo, sign, or advertisement? These are all forms of sports marketing and they are the publicity that many companies thrive off of. Sports marketing is a necessary and booming industry that has evolved in the past years. In the article, “Overview of Careers in Sports Marketing,” the author discusses the skills and experience needed for beginners and those looking for low-key entry level sports marketing jobs. Along with the typical list of necessary attributes, if an individual wants to hold a specific more serious position in sports marketing the author of the article “Career and Professional Development: Sports Marketing” explains some of these positions and companies. Mihai Alexandru provides information on how to actually plan and organize specific marketing elements like commercials, advertisements, etc. in his article, “The Strategic Sports Marketing Planning Process”. No matter what, if a person wants to become more in the sports marketing industry they can climb their way up to work with highly successful companies and individuals. Jordan Powell’s article, “From Team Sports to Moto: Matt Piva’s Journey Into The Industry”, introduces a kid named Matt Piva who followed his dream to become the Motocross Marketing Manager and everything he does while sports marketing for individual athletes and events. Red Bull is another company that someone can work for in order to have a job in the sports marketing industry. Red Bull has been highly successful due to the endless list of events and teams they own and athletes they endorse according to Chris Conway in the article, “A Sports Marketing Success Story.” Sports marketing has many different levels; the out-dated and inexperi...
The Olympic Games are the leading worldwide sport event that held every 4 years, featuring thousands of international athletes from more than 200 nations participating in a variety of sports competitions. Although the Games are about winning the sports competitions, they also provide a platform for the nations throughout the world to learn different cultures and share uniqueness. The Games are important, and have to be held because they transmit a message of friendship and peaceful between nations.
Hosting the Olympics comes with many perks for such as, prestige, the creation of new facilities and countless amounts of benefits. With so many things the Olympics has to offer, there can be numerous reasons why countries compete to be elected as the hosting country for the Olympics. The most common reason countries want to host the Olympic is because of its potential ability to improve the country’s economy significantly. With the entire world participating in the Olympics, the hosting country can market...
The Olympic Games plays a significant role in the world. The relationship between it and host countries is important to investigate for comprehending cultural studies. According to Xu and Kirby (2008), the Olympic Games has a considerable impact on the expression of national identity. For example, London applied this approach to promote its national identity. This can be discovered from the BBC video called James Bond escorts The Queen to the opening ceremony in 2012 (2012): an amiable identity is perceived by the audience through presenting corgi at Buckingham Palace. Moreover, China is no exception. There is an image about the opening ceremony of the 2008 Olympics, it shows a spectacular drumming performance. In addition, an article about
I believe commercialization comes along and has to be present once you make sport into a business. It is has to. Athletes, coaches, and owners today make millions of dollars more than some wealthy business owners. However, there are critics of sport commercialization that believe commerce corrupts sport. The Corruption Thesis according to Simon on pg. 190 of Fair Play: The Ethics of Sport:
The commercial growth and popularity of sports is no doubt being fueled by a combination of media and corporate sponsorships in a myriad of ways. First of all media has changed the way we watch sports. It has become an avenue for people to enjoy sports through the unique perspective of different announcers and see the game and athletes in a different light. This also allows individuals to get the same entertainment value for just the price of their cable. Through the various media outlets television Internet and nowadays-social media we have become accustomed to seeing corporate sponsors like Nike, Under Armour, and McDonalds attach their name popular succeeding athletes to help sell their products and grow the popularity of the sport (Coakley, 2017, p. 341-349)
"Money makes the world go 'round." Sports could not exist without the presence of money. You have high paid athletes asking for multi-million dollar contacts, while at the same time you have doctors not even making close to that amount. There are corporations buying out sports teams, buying stadiums, and buying everything that has to do with sports. Someone may ask why they do this. Sports are one of the most profitable industries in the world. Everyone wants to get their hand on a piece of the action. Those individuals and industries that spend hundreds of millions of dollars on these sports teams are hoping to make a profit, but it may be an indirect profit. It could be a profit for the sports club, or it could be a promotion for another organization (i.e. Rupert Murdoch, FOX). The economics involved with sports has drastically changed over the last ten years. In the United States, we spend about 13% of all money on sports and entertainment. Sports has obviously done its job; entertained and drained money out of our pockets.
There are a lot of massive spectacles like the Super Bowl, the World Series, the NBA play-offs, the Olympic Games, College Football Games. Each of these sports activities takes in many millions of dollars from television revenues and dominates national sports news for days or weeks.